How is retirement in Canada?

Many retirees who plan to relocate in retirement often head south to enjoy the southern hospitality and warmer climates. Florida and Texas are among the most popular Southern states for retirees moving south. However, a growing number of retirees are opting to move north to Canada to enjoy various benefits available to retirees.

Canada has a lot to offer to retirees who want a fresh start. First, Canada offers a high quality of life, including great healthcare facilities, transport infrastructure, good housing, and good weather. Outdoor enthusiasts have a lot to see in the vast country, from lakes, beaches, mountains, and forests.

Is Canada good for retirement?

Canada is an attractive option for retirement due to its high quality of life and excellent healthcare system. The government-funded healthcare system ensures that retirees get access to basic medical services without high out-of-pocket costs, which are common with the American healthcare system.

Canada also favors retirees who want to retire on a budget. While major cities like Vancouver and Toronto can be expensive, there are various affordable regions, especially the smaller towns and rural areas. Plus, eligible seniors benefit from various benefits like the Old Age Security (OAS), which helps retirees live a comfortable retirement lifestyle.

The diverse housing options in Canada also favor retirees. Whether you want to live in a suburban home, a rural home, or a small apartment, you can find multiple living arrangements that match your needs and budget. Additionally, there are a range of housing options that suit their desires, including close to the big cities or deep inside the countryside.

Can I immigrate to Canada using a tourist visa?

If you plan to move to Canada part-time, you may consider obtaining a tourist visa. This visa lets you stay in Canada for up to six months in a year, but you can apply to extend your stay while in Canada. A tourist visa allows you to buy a vacation home and even open a bank account in Canada.

A tourist visa is an ideal option if you plan to split your retirement living between the United States and Canada. You can spend up to six months a year in Canada, and spend the rest of the year in the warmer parts of the United States. You will still be considered a US citizen, and you must pay US taxes on your income. However, you won’t benefit from Canadian healthcare coverage.

Can a family member sponsor me to Canada?

If you have a qualifying family member who lives in Canada, it can be the easiest way to retire in Canada. However, the family member must be a Canadian citizen or a permanent resident, and either be a spouse, child, or grandchild.

Here are the family sponsorship options available:

Super visa

If you are a parent or grandparent of a Canadian citizen or permanent resident, you can apply for the Super Visa. This multi-entry visa is valid for up to 10 years, and it allows you to stay in Canada for up to two years at a time without needing to renew your status.

The child or grandchild must write a letter promising to financially support you during the duration of your stay. Plus, they must meet the minimum income threshold, depending on the number of people in the household. However, the Super Visa does not provide access to universal health coverage or other benefits available to permanent residents.

Parents and grandparents program

This program allows Canadian citizens and permanent residents to sponsor their parents and grandparents for permanent residence. The person sponsoring you must prove that they can financially support you.

To meet the minimum income level for the parents and grandparents program, a sponsor must submit notices of assessment from the Canadian Revenue Agency to confirm their income. Also, the sponsor must sign a sponsorship agreement, indicating their commitment to financially support you for 20 years.

This program is in high demand, and it involves a lottery system to assign limited spots. About 30% of foreign nationals in Canada move into the country through this program.

Best places to retire in Canada

Canada offers retirees a variety of lifestyles, from coastal living to expansive rural living. Here are some of the popular places for seniors in Canada:

Victoria, British Columbia

Victoria is the capital of British Columbia, a province in Canada, and is named after Queen Victoria. It is the most populated island on the West Coast, and it has a large community of over 65. Retirees can enjoy a boating lifestyle due to the island's multiple beaches and entries to the Pacific Ocean. The city has a mild climate, and snow is not common during the winter.

Niagara-on-the-lake, Ontario

Niagara-on-the-Lake is a charming town situated on the shores of Lake Ontario. This picturesque town is known for its historic sites, wineries, and theatre festivals, providing a rich cultural experience for seniors. It has a close-knit community and a slower pace of life than the big cities, making it ideal for seniors seeking a slow retirement. Seniors can also explore the boutique shops located in Victorian buildings with lined flower gardens.

Kelowna, British Columbia

Seniors who retire in Kelowna get access to various independent living and long-term care facilities. This town experiences all four seasons, and it is a popular destination for seniors seeking warm summers and mild winters. Outdoor enthusiasts have plenty to explore, including lakes, vineyards, and mountains. Seniors can enjoy skiing, hiking, boating, biking, and swimming.

Canmore, Alberta

Canmore is located in the Rocky Mountains and has one of the most breathtaking sceneries in Canada. The city received international attention when it hosted the Nordic events in the 1988 Winter Olympics. The modern-day Canmore is popular for winter sports, including snowboarding, skiing, and ice skating. During the summer, residents enjoy mountain biking, rock climbing, golfing, and hiking.

Benefits of retiring in Canada

Canada is an attractive destination for retirees for various reasons. Here are some of the benefits of retiring in Canada:

Universal healthcare

Canada has a publicly-funded healthcare system that provides access to healthcare services to all residents. If you retire in Canada, you can receive medical care without incurring high expenses that are common with the American healthcare system.

Scenic landscapes

If you are an outdoor enthusiast and you are looking for a relaxed lifestyle in retirement, Canada has plenty of natural landscapes. From the Rocky Mountains, hundreds of lakes, a long coastline of beaches, and millions of acres of forests, you will have plenty of outdoor activities to explore. You can go hiking, biking, boating, skiing, and fishing to help you live an active lifestyle.

Stable economy

Canada has a strong and stable economy, making it an ideal place for seniors to enjoy retirement. Seniors benefit from strong welfare programs that offer financial security to retirees in their golden years. You can find safe senior communities, modern amenities, good infrastructure, and high standards of living.

Recreational opportunities

Seniors can explore numerous recreational opportunities like theatres, music festivals, museums, and art galleries. Additionally, there are fitness centers and golf courses to help seniors stay active and engaged even in retirement.